Digest: Deepwater Horizon rig not linked to oil sheens

October 10, 2011Updated: October 10, 2011 10:33pm

Photo: ERIC PIERMONT

FILES - Picture taken on May 24, 2011 shows Bertelsmann's chairman and CEO Hartmut Ostrowski during a session of the e-G8 Forum in Paris. Ostrowski, 53, will leave his post by January 2012 and change to the group's supervisory board, it was announced on October 10, 2011. AFP PHOTO ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

FILES - Picture taken on May 24, 2011 shows Bertelsmann's chairman...

The Coast Guard does not believe the sunken Deepwater Horizon rig is the source of oil sheens spotted near the site.

In late September, the Coast Guard notified rig owner Transocean it believed the rig wreckage might be the source of sheens. The Macondo well head had been ruled out as the source by the Coast Guard after BP sent a remotely operated underwater vehicle to the site in August.

The Coast Guard added, "The cause of the sheens remains under investigation."

TOM FOWLER

Media: CEO quitting Bertelsmann

Bertelsmann, the German media conglomerate, said Monday that its chief executive, Hartmut Ostrowski, would step down at the end of the year, citing "personal reasons" for the surprise move. Ostrowski will be succeeded by Thomas Rabe, the chief financial officer, on Jan. 1. A Bertelsmann associate said Ostrowski had decided to quit to avoid "burnout."

NEW YORK TIMES

Ecuador: ConocoPhillips subsidiary sued

Ecuador said it's suing a ConocoPhillips subsidiary for $504 million as part of a dispute over alleged environmental damage caused by the company's oil operations in the South American country.

Ecuador wants the money to clean up areas in the Amazon region where subsidiary Burlington Resources Oriente operated, the nation's attorney general said Monday.

The lawsuit against Burlington is part of a World Bank arbitration case after Ecuador seized the company's oil fields over a tax dispute in 2009.

BLOOMBERG NEWS

Investing: Nader pressures CEO of Cisco

Cisco Systems shareholder Ralph Nader reiterated a call for CEO John Chambers to issue a special dividend and increase the existing one.

Nader is putting pressure on Chambers to use part of Cisco's $38.9 billion in cash to more than double dividends, now at 24 cents a year. Cisco has scaled back sales-growth projections amid sluggish demand.